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Texas Business Organizations Code

§ 21.305 — NOTICE OF REDEMPTION

BO § 21.305Title 2. CORPORATIONS · Ch. 21. FOR-PROFIT CORPORATIONS · Art. G. DISTRIBUTIONS AND SHARE DIVIDENDS

Statute text

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(a)A notice of redemption of redeemable shares of a corporation must state:
(1)the class or series of shares or part of the class or series of shares to be redeemed;
(2)the date set for redemption;
(3)the redemptive price; and
(4)the place at which the shareholders may obtain payment of the redemptive price.
(b)The notice of redemption shall be sent to each holder of redeemable shares being called not later than the 21st day or earlier than the 60th day before the date set for redemption, unless otherwise provided by the terms of the class or series of shares contained in the certificate of formation.
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Legislative history

Acts 2019, 86th Leg., R.S., Ch. 665 (S.B. 1971), Sec. 6, eff. September 1, 2019.

Source: Texas Business Organizations Code § 21.305 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.